British Columbians were the first Canadians that have to pay provincial income tax. Canadian personal income tax has since grown into a complex, ever changing set of rules that leaves many confused and with penalties.

British Columbia’s filing deadline for provincial taxes falls at the same time as their federal taxes. The deadline for filing taxes is April 30th for those who have a balance owing. If you, your spouse or common-law partner ran a business in during the tax year your filing deadline is June 15th.

For 2016 the tax brackets for British Columbias person income:

– 5.06 per cent tax on the first $38,210 of taxable income– 7.7 per cent on income above $38,210 up to $76,421– 10.5 per cent on income between $76,421.01 to $87,741– 12.29 per cent on the amount of taxable income between $87,741.01 to $106,543– Income over $106,543 will be taxed at a rate of 14.7 per cent

Here are some recently introduced British Columbia tax credits:

Tax credits can change from year to year, given the province’s economy and political climate.

– Farmers’ Food Donation: Designed to encourage farmers to donate agricultural products to registered charities, eligible businesses can receive a credit of 25 per cent of the eligible amount of their gift.

THERE ARE MANY OTHER, OVERLOOKED TAX CREDITS THAT ARE AVAILABLE TO TAX FILERS IN BRITISH COLUMBIA, CONTACT US FOR CANADIAN EXPAT TAX ADVICE OR VISIT BAMBRIDGE ACCOUNTANTS | CANADA FOR CANADIAN TAX ADVICE